Harry Triguboff signals Melbourne acquisition to complete east coast serviced apartment network
Billionaire apartment developer Harry Triguboff is planning serviced apartments in Melbourne - his first southern state foray.
Meriton is currently considering site acquisition, he told The Australian.
“I have serviced apartments in Sydney, Brisbane and the Gold Coast, this (a Melbourne property) would make a network,” Mr Triguboff said.
Business people and tourists want to book in different cities through one brand of accommodation, he said.
With the bulk at Bondi Junction in Sydney, Meriton has 3100 serviced apartments across 13 locations.
The plans are to build 1000 this year through construction already underway in the Sydney suburbs of Parramatta, Chatswood, North Sydney and mascot.
For most of the past five decades, Meriton has been Sydney-centric, then undertaking Gold Coast projects and more recently apartment towers in Brisbane.
The group's 3100 serviced apartments in Sydney, Brisbane and the Gold Coast date back to 2000 as previously it had sold all its apartment stock.
Meriton expect to build 2500 units this year, although it has the land capacity for 11,000 apartments.
